Solve the following with solution

Problem 15-18 (AICPA Adapted) On January 1, 2021, Jerome Company purchased nontrading equity investments which are irrevocably designated at FVOCI: Purchase Transaction Market value price cost December 31, 2021 Security A 1,000,000 100,000 1,500,000 Security B 2,000,000 200,000 2,400,000 Security C 4,000,000 400,000 14,700,000 On July 1, 2022, the entity sold Security C for P5,200,000. What amount of gain on sale should be recognized directly in retained earnings? a. 800,000 b. 500,000 C. 300,000 d. 100,000 Problem 15-19 (IAA) Lagoon Company purchased the following investments during 2021: Market value Classification Cost December 31, 2021 Security A Trading 900,000 1,000,000 Security B Trading 1,000,000 1,600,000 On July 31, 2022, the entity sold all of the shares of Security B for P1, 100,000. On December 31, 2022, the shares of Security A had a market value of P600,000. No other activity occurred during 2022 in relation to the trading security portfolio. What total loss on the trading securities should be reported in the income statement for 2022? a. 500,000 b. 400,000 C. 900,000 d. 100,000Problem 15-14 (AICPA Adapted) During 2021, Knickknack Company purchased marketable equity securities to be measured at fair value through other comprehensive income. On December 31, 2021, the balance in the unrealized loss on these securities was P100,000. There were no security transactions during 2022. Pertinent data on December 31, 2022 are: Security Cost Market value 2,100,000 1,600,000 NKX 1,850,000 2,000,000 1 1,050,000 900,000 In the statement of changes in equity for 2022, what amount should be included as cumulative unrealized loss as component of other comprehensive income? a. 500,000 b. . 300,000 C. 200,000 d. 0 Problem 15-15 (AICPA Adapted) At the beginning of current year, Manifold Company began operations. The following information related to the portfolio of equity securities held for trading at year-end:a Trading Nontrading Aggregate cost 360,000 550,000 Aggregate fair value 320,000 450,000 Aggregate lower of cost or market value applied to each security in the portfolio 304,000 420,000 The nontrading investments are measured at fair value through other comprehensive income. What amount should be reported as unrealized loss in the income statement for the current year? a. 140,000 b. 186,000 C. 40,000 56,000Problem 15-16 (AICPA Adapted) Nightmare Company provided the following information at year-end regarding the portfolio of equity securities: Aggregate cost 1,700,000 Unrealized gains 40,000 Unrealized losses 260,000 Net realized gains during the current year 300,000 The equity investments are measured at fair value through other comprehensive income. At the beginning of current year, the entity reported an unrealized loss of P15,000 to reduce investments to market on a portfolio basis. In the year-end statement of changes in equity, what amount of unrealized loss should be reported? a. 260,000 b. ' 220,000 C. 205,000 d. Problem 15-17 (AICPA Adapted) During 2021, Opulence Company purchased marketable equity securities as short-term investment to be measured at fair value through other comprehensive income. The cost and market value on December 31, 2021 were: 090.090; Security Cost Market value A 1,000 shares 300,000 350,000 10,000 shares 1,700,000 1,550,000 C 20,000 shares 3,150,000 2,950,000 The entity sold 10,000 shares of B on January 5, 2022 for P1, 450,000. What total amount should be charged to retained earnings as a result of the sale of equity securities in 2022? a. 200,000 b. 100,000 C. 250,000 2 50,000